KOREAN PHONE MAKER Samsung posted a record $9.56bn profit for the third quarter on Thursday, beating its own expectations.
Samsung announced 59.08tn Won or $55.59bn in revenue (PDF) and 10.16tn Won or roughly $9.56bn in operating profit for the third quarter on Thursday, up seven percent quarter on quarter and 26 percent from the same quarter last year.
Samsung credited the growth to growing smartphone shipments, with the firm revealing that phone sales are up 10 percent. Although the firm revealed yesterday that it had shipped 40 million Samsung Galaxy S4 handsets, the figure was lower than both Samsung and investors had been hoping for.
However, Samsung said that "high end model shipments stayed at similar levels quarter on quarter", attributing the 10 percent growth to its cheaper "mass market models" such as the Samsung Galaxy S4 Mini and the Galaxy Ace 3.
The firm also noted that despite increased competition its tablet sales were up, which it credited to the recent launch of its Galaxy Tab 3 lineup.
However, it was Samsung's semiconductor business that saw the largest growth during the third quarter. The firm boasted that sales of memory for mobile devices and gaming consoles saw revenue for the division climb 12 percent from the previous quarter, and said that it expects demand for memory and its high pixel count image sensor to increase going forward.
Revenues from Samsung's display business weren't quite so impressive, with lack of demand for new TVs and displays causing operating profits to drop 12 percent. However, Samsung noted that sales of 60in+ TVs rose during the quarter.
Samsung's main smartphone rival Apple will announce its third quarter results next Tuesday. µ
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